If you are a year-end U.S. public company, your second fiscal quarter has recently come to an end, which means that it's time to calculate your public float to see if your reporting status has changed.

A public float is the aggregate number of your company's outstanding shares available for trading by public investors, multiplied by the current sale price of the shares. The dollar value of your public float determines your filer status, which establishes the deadline by which your company must file its annual and quarterly reports with the SEC.

Your public float can also impact your eligibility to register shares on a short-form registration statement, which can make raising capital more difficult. If it has decreased below $75 million, you may be limited in the amount of equity that you can sell in a primary offering on Form S-3. General Instruction I.B.6 to Form S-3 provides that a registrant with a public float of less than $75 million may only sell under a Form S-3, during any 12-month period, securities having an aggregate market value of not more than one-third of the public float of such registrant.

For a complete overview of how to calculate your company's public float and key factors to keep in mind, view our full post here.